Everything is just beginning! Postscript 1 of XUC landing in OKEX fiat currency trading area

The recent news that XUC was launched on the OKEX fiat currency trading area has really become popular in the cryptocurrency circle, which has brought convenience to investors to quickly trade XUC! At the same time, this good news has also played a role in fueling the trend of XUC! The XUC index of OKEX-Fiat Currency Trading Area-Peer-to-Peer Trading has soared by 187% in 24 hours.

Before logging into the fiat currency trading area, XUC/BTC coin-to-coin trading was at 0.000539BTC. Once the good news came out, XUC was on a roll! It peaked at 0.00078669BTC, an increase of 45%. Currently, the total 24-hour trading volume of XUC in the three trading pairs of XUC/BTC, XUC/ETH, and XUC/USDT on OKEX has reached a maximum of 200,000 XUC. As of press time, it was around 140,000 XUC, and the price stabilized to 0.00074486BTC, an increase of 37% in 24 hours!

The upward trend of XUC has attracted much attention. Many people are curious. According to the convention, the legal currency trading area of ​​OKEX platform provides mainstream currencies (BTC/LTC/ETH/ETC/BCH/USDT). So who is XUC, the "new member" selected into the legal currency trading area? Perhaps we can know from the following introduction.

XUC is a token issued by the Exchange Alliance, which has opened the currency-to-currency trading function in world-renowned exchanges such as HitBTC/OKEX/CEX. The popularity of XUC is mainly due to the Exchange Alliance project behind it. The Exchange Alliance is the world's first decentralized trading network that does not require credit endorsement. The project itself was born to break through the difficulties in the application of blockchain technology.

Vision and Mission of the Exchange Alliance

Born in 2017, the Exchange Alliance aims to achieve seamless connection between digital assets, enabling users to trade between different exchanges/different digital assets, and solving the current situation of separation between exchanges and users caused by differences in region, legal currency, language, etc. The Exchange Alliance connects digital asset exchanges around the world by building a decentralized exchange trading network that does not require credit endorsement, thereby achieving a win-win situation for exchanges, users, and the Exchange Alliance.

Exchange Alliance Technology Model

The Exchange Alliance connects and links digital asset exchanges, and proposes the value proposition of a decentralized trading network. The biggest difference between the Exchange Alliance and Ripple is that the Exchange Alliance does not require mutual trust between the two parties when value exchange occurs. This allows any exchange to join the alliance. The Exchange Alliance does not even need an intermediary such as Ripple to realize value transfer (practice has proved that this method is ineffective).

Through the decentralized exchange solution, the exchange alliance can robustly avoid the damage caused by single points of failure, reduce the possibility of many malicious attacks, and avoid the risks brought by geopolitical policies. Unlike existing "on-chain" decentralized exchange solutions (such as 0x, ethdelta and altcoin.io), transactions on the exchange alliance are instant, which solves the biggest pain point of all current decentralized trading technology solutions. Current decentralized transactions are not only expensive but also slow (for example, each Bitcoin transaction requires a $5 handling fee and the transfer confirmation time is as long as 1 hour), and such technology cannot be applied on a large scale. In addition, the exchange alliance supports cross-chain transactions, which means that transactions do not only occur on a single blockchain (the above 0x and etherdelta only support digital currency transactions on the Ethereum blockchain).

The core technologies adopted by the exchange alliance are payment channels, atomic swaps, and order book integration. Payment channels are a mechanism introduced by the Lightning Network for instant, off-chain digital asset transactions. In fact, the mutual conversion of two digital assets is achieved through "atomic swaps", which occur directly in the payment channel. In the exchange alliance, the payment channel uses slightly modified HTLCs. In simple terms, taking the BTC/LTC transaction as an example, the real Bitcoin flows from exchange A to exchange B in the Bitcoin payment channel, and the real Litecoin flows from exchange B to exchange A in the Litecoin payment channel. HTLCs ensure the atomicity of asset swaps: either all succeed or the transaction fails. The exchange alliance collects order information through the corresponding payment channels (for example, the BTC/LTC transaction order will only be broadcast in the BTC and LTC payment channels), which ensures the efficiency and decentralization of the system. The order book should be shared with all alliance members in the network with minimal delay. Each node in the exchange alliance will continuously monitor the transaction order books of different digital assets.

In summary, the Exchange Alliance will strive to solve the pain points in the development of the blockchain industry through technological innovation. It is no surprise that XUC was selected into the OKEX fiat currency trading area! What is more worth mentioning is that XUC has a clear and long-term plan for value discovery: in terms of function, XUC will serve as a reward mechanism to reward developers of the Exchange Alliance open source community, service nodes of the Exchange Alliance network, traders, and exchanges that join the alliance; in terms of value, the current circulation of XUC is 65 million, most of which have a 10-year lock-up period, and most of them will be destroyed in the future, so XUC is scarce and deflationary.

January is cold and the cryptocurrency market is experiencing ups and downs. Some people cry and some laugh, but the industry continues, and excellent projects and tokens are emerging. How can we find a coin worth sticking to in the hustle and bustle? Users need not only luck, but also wisdom. The essence of investment is to invest in the future, and XUC represents the era of future exchange interconnection. The future is here, are you ready?